A golden visa is a residence permit granted for an investment: property, government bonds, a business, a fund subscription or a donation. Last published thresholds run from about 25,000 US dollars in Thailand to 800,000 for US EB-5. Several programmes have closed.
What a golden visa buys you
A golden visa gives you the right to live in a country, and often to travel within a bloc such as Schengen. It is not a passport, and no legitimate programme sells citizenship directly. Where citizenship exists, it comes later through naturalisation, after a set period of residence.
Treat the money as a cost of entry, not a portfolio decision. A qualifying property or fund can lose value, and the permit will not protect you. If you need a return, buy the asset on its own merits.
Programme terms as last published
Every figure below is the last published threshold as of August 2026. These programmes are revised often, sometimes at short notice, so confirm current terms with the issuing government authority before you commit capital.
| Programme | Minimum investment (last published) | Indicative processing | Stay requirement | Route to citizenship |
|---|---|---|---|---|
| Portugal | 250,000 EUR donation or 500,000 EUR qualifying investment | 6 to 12 months | Minimal physical presence | Possible after 5 years |
| Spain | 500,000 EUR in real estate | 2 to 3 months | None | After 10 years |
| Greece | 250,000 EUR, rising to 500,000 EUR in key cities | 3 to 6 months | None | Not stated; permanent residency granted |
| UAE | AED 2 million, roughly 545,000 USD | 1 to 2 months | Not stated; confirm | Not stated; 10-year renewable residency |
| US EB-5 | 800,000 USD in an approved project | 18 to 30 months | Green card residence conditions apply | Possible after 5 years |
| Canada Start-Up Visa | Roughly CAD 200,000 to 400,000 | 12 to 18 months | PR conditions apply | Via permanent residence |
| Malta | 600,000 EUR combining donation and property | 12 to 36 months | Not stated; confirm | Route to EU citizenship |
| Thailand Elite | 25,000 to 70,000 USD | 2 to 4 months | Not stated | No route; residency of 5 to 20 years |
Reading the table without getting burned
Processing times are indicative and assume a clean file. A missing bank statement can add months. Speed is not security: a fast permit in a programme under political review is worth less than a slower one with stable rules.
Malta’s route reportedly gives visa-free access to 180-plus countries, a headline that sells programmes. Mobility is real, but it is the easiest thing for a government to change. Our sets out the non-investment paths.
Programmes that have closed or tightened
This is the part promoters skip. Ireland ended its Immigrant Investor Programme in 2023. The UK closed the Tier 1 Investor visa in 2022. Portugal removed property investment in Lisbon and Porto, though other qualifying routes remain open.
The pattern matters more than any single closure. Governments open these schemes for capital and close them under pressure over housing costs or money-laundering risk. Assume today’s programme may be repriced or withdrawn, and never plan around a threshold you have not verified this month.
The cost layers beyond the headline number
The advertised investment is rarely what leaves your account. Budget separately for legal fees, government application fees, due diligence charges, translation and apostille costs, and property transfer taxes on real estate. Acquisition taxes and notary costs add a meaningful percentage in several European markets.
Then the recurring costs: renewal fees, local property taxes, maintenance, management if you rent it out, and professional fees to keep your file compliant. Ask any adviser for a five-year cost projection in writing, not one entry figure.
Tax residency and citizenship are separate questions
A residence permit does not automatically make you tax resident, and tax residency does not make you a citizen. Most countries test on days present, where your home and family sit, or where your economic interests are centred. You can trigger it by accident.
Portugal ran a ten-year non-habitual residency regime, the UAE has no personal income tax, and Malta has tax treaties with more than 70 countries. None of that tells you what you will owe. Your home country may still tax your worldwide income, and US citizens are taxed wherever they live.
Due diligence before you wire anything
Verify the programme on the government’s own website, not a brochure. Confirm the legal basis, the current threshold and whether the asset you are buying still qualifies. Ask what happens to your permit if the fund underperforms or the developer fails to deliver.
Expect source-of-funds scrutiny and prepare early: audited accounts, sale contracts, tax returns and a clean paper trail for every large movement. Never send funds to a personal account, an intermediary’s account or an unrelated jurisdiction. Use an escrow or client account governed by local law, and get an independent valuation on any property.
Vet the advisers too. Check that the lawyer is admitted to practise in the destination country, and confirm it with the local bar directly. Ask in writing how the firm is paid, including commission from developers or fund managers: a firm earning a placement fee on the asset it recommends has an interest you should see.
Ask for references from clients who applied two or three years ago, so you hear about renewals, not sales. Keep your tax adviser separate from the firm selling the investment.
Who these programmes suit, and in what order
Golden visas work best for business owners with liquid capital, families seeking education and healthcare abroad, and travellers who need mobility. They suit almost nobody whose capital is tied up elsewhere. If the money would hurt to lose, this is the wrong product.
The sequence rarely changes: choose the country and investment type, engage legal and tax advisers, invest, apply, pass background checks, then renew after the qualifying period. Advisers come before the money: if a promoter wants funds moved before your lawyer has reviewed the structure, stop there.
Canada’s may cost far less for skilled applicants. US applicants weighing employment-based options against EB-5 can compare them in our .
FAQ
Does a golden visa give me citizenship?
No. It grants residence. Some programmes lead to naturalisation later, Portugal after five years or Spain after ten, if you meet that country’s conditions. Others, including Thailand Elite and the UAE scheme, offer renewable residency with no stated citizenship route.
Which programme has the lowest entry cost?
Thailand Elite is the cheapest listed, at 25,000 to 70,000 US dollars, but it is long-term residency only. In Europe, Greece and Portugal start at 250,000 euros, with Greece rising to 500,000 in key cities. Confirm current pricing before budgeting.
Do I have to live in the country?
It varies. Spain and Greece published no minimum stay, and Portugal required only minimal presence. EB-5 and Canadian PR carry real presence conditions. If you move, you may become tax resident, a separate consequence worth modelling first.
Is a golden visa a good investment?
Treat it as a residence product, not a return strategy. You are buying legal status and mobility, and paying fees and taxes for them. The asset may perform well or badly, and rules can change while you hold it. Judge it independently.
What to do next
Write down what you want first: mobility, a base for family, or a citizenship path. That narrows the list faster than price does. Open the official government page for your top two programmes and confirm the current threshold, qualifying assets and processing times yourself.
Engage a lawyer admitted in that country and a tax adviser at home before you move funds. Ask both for a written five-year cost estimate.
Investment thresholds and programme rules change frequently; verify current terms with the official government authority and independent legal counsel before transferring funds.
